SE Mich. PMI: January Rebound After Year-End Low
DETROIT— The Southeast Michigan Purchasing Managers Index (PMI) for January is 52.3, up from 50.6 in December, as both the Production and New Order indexes rebounded after a seasonal, year-end low. A PMI value above 50 generally suggests economic growth.
“As the new year gets underway our economy is picking up momentum, indicating growth in Michigan’s southeastern economy,” said Nitin Paranjpe, a supply chain faculty member at Wayne State’s School of Business Administration, who interpreted this month’s results. “Additionally, the Commodity Price Index rose from December’s 52.3 to 56.7 in January."
January prices for plastic, polystyrene, wire rod, aluminum, brass items, and contingent labor in information technology are all up. An encouraging 84 percent of respondents expect the economy to remain the same or improve over the next six months, while fewer than 17 percent believe the economy will become less stable.
Issues concerning PMI survey respondents include health care reform, automotive sales and Corporate Average Fuel Economy regulations.
The Southeast Michigan Purchasing Managers Index (PMI) is a research partnership between Wayne State University’s School of Business Administration and the Institute for Supply Management – Southeast Michigan.
The full report can be found at http://www.ism-sem.org/resources/files/PMI-%20January%202014.pdf.
The Institute for Supply Management - Southeast Michigan serves its members as an affiliate of the Institute for Supply Management by providing superior opportunities for education, networking, and career enhancement as a means of advancing and promoting the leading edge practices and profession of purchasing and supply management. Visit their website at http://www.ism-sem.org.
Wayne State University is a premier urban research institution of higher education offering 370 academic programs through 13 schools and colleges to nearly 29,000 students. The School of Business Administration offers AACSB accredited programs at the bachelor, master and doctoral levels. Learn more at www.business.wayne.edu.